Citi

Leaders of the big US investment banks were cautiously optimistic about upcoming investment banking activity, despite a poor second quarter across their capital markets divisions.

Dubai-headquartered international education provider GEMS Education is seeking a $1.85bn debt package to support CVC Capital Partners taking a minority stake in the company.

Wanda Sports kicks off IPO bookbuild — CloudMinds starts gauging interest for $500m float — NetEase's Youdao eyes US listing — Alphamab Oncology gears up for HK deal

Just 16 days after Laurentino Cortizo took office as president, Panama tapped the bond market for its largest ever deal. The government said it needed to raise funds to make overdue payments.

BMW returned to China’s auto loan ABS market on Tuesday with a Rmb8bn ($1.2bn) two-tranche deal, its largest issuance so far, and received a big thumbs-up from investors.

India’s Adani Ports and Special Economic Zone has bagged $650m from 144A/Reg S bonds to fund a tender offer of notes due next year, pricing the new issuance at a competitive level.

Norway’s Yara has signed a $1.1bn-equivalent revolving credit facility, with the fertiliser company swapping its existing bank debt for a sustainability-linked deal.

Online education platform Youdao is working with a pair of US banks for a potential New York listing, according to a source familiar with the matter.

Chinese robotics company CloudMinds has started sounding out investors for a $500m IPO of American Depository Shares (ADS) on the New York Stock Exchange, according to bankers close to the situation.

Korea Western Power Co (Kowepo), the power supplier owned by state-backed Korea Electric Power Corp, sold $300m of three year notes on Monday, riding on strong demand from sovereign wealth funds and central banks.

Real estate investment trust (Reit) Fibra Terrafina sold $500m of 10 year bonds on Monday, with hefty tightening allowing the borrower to price closer to its largest Mexican rival than expected.

Citi is preparing a four tranche high yield deal to fund the creation of ‘Trivium’, a new metal packaging company, owned by Ontario Teachers' Pension Plan and formed from a $2.5bn spin-out from Ardagh, combined with its Exal business.